Daily Market Analysis

Traders are eager to sell the USD on its attempts to recover.

There can be no doubt that a spike in volatility awaits the British pound today.

On D1, the downtrend continues, MAs are in the bearish position.

This week we can await a big move: either to the previous week’s high or to 78.6% Fibo level.

The pair will be vulnerable for a decline to support at 1.0440.

Since the end of December, the price of WTI has substantially recovered.

EUR/CHF formed an ‘Inside bar’ candlestick pattern followed by a ‘Fakey’.

The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.

USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.

If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.

USD/JPY made a sizeable move up last week. It retraced more than 50% of the December-January decline.

Bitcoin was clearly rejected down by the 50-day MA (3777.96).